Bank of Greece (BoG) Governor Yannis Stournaras referred to the gap
Bank of Greece (BoG) Governor Yannis Stournaras referred to the gap that still exists in Greek manufacturing activity, despite the positive steps taken in recent years, speaking at an event organized by IOBE under the title “Challenges and Opportunities for the European and Greek Economy: The Contribution of the Manufacturing Industry.”
To bridge this disparity, Stournaras outlined four key pillars: the green energy transition, strengthening digital transformation, better utilization of EU funds, and enhancing the internationalization of Greek industry.
He pointed to the burdensome energy costs that Greek industries continue to face and added that Greece still ranks low in Europe in terms of both market share and productivity.
However, the head of the Bank of Greece noted that in recent years there has been a significant increase in research and development investments while emphasizing that the Greek industrial sector must address a complex set of modern challenges. He also stressed the need for strategic autonomy, highlighting how the war in Ukraine exposed Greece’s dependence on fossil fuels.
Stournaras stated that the revitalization of Greek manufacturing is achievable, citing the new technological environment, which “requires radical changes.” He mentioned that of the €36 billion in investments made in recent
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